Uber Technologies Inc. has announced the appointment of Balaji Krishnamurthy as its new chief financial officer, according to recent regulatory filings with the U.S. Securities and Exchange Commission. Krishnamurthy, 41, takes over from Prashanth Mahendra-Rajah, marking a significant leadership transition at the ride-hailing giant.
Krishnamurthy's Background and Role
Since joining Uber in 2019, Krishnamurthy has held several key leadership positions, most recently serving as vice-president of strategic finance. His promotion to CFO comes at a critical juncture as Uber prepares for a capital-intensive shift toward integrating autonomous vehicle technology into its operations. Krishnamurthy's experience in strategic finance is expected to be instrumental in managing the financial aspects of this ambitious transition.
India's Growing Importance for Uber
The leadership change coincides with India solidifying its position as Uber's third-largest market globally. In 2025, users in India logged an impressive 11.6 billion kilometers on the platform, highlighting the country's significant contribution to Uber's global operations. While Uber has moderated its electric vehicle ambitions in the United States, the company continues to invest heavily in the Indian market.
Recent reports indicate that Uber has completed a second investment in Carrum, a fleet startup backed by the CarDekho Group. This move underscores Uber's strategy of pursuing electrification in emerging markets like India, while simultaneously focusing on autonomous software development in Western territories. This regional approach allows Uber to tailor its investments to local market conditions and opportunities.
Autonomous Vehicle Strategy and Acquisitions
Uber's commitment to autonomous vehicle technology is further evidenced by its recent acquisition of Belgian startup Segments.ai. This company specializes in high-precision data-labeling and multi-sensor annotation, which are crucial for training the artificial intelligence models that power self-driving systems. By integrating Segments.ai into its Uber AI Solutions division, the company is significantly enhancing its ability to process LiDAR and camera data in-house.
This strategic acquisition aims to reduce the manual effort required to train vehicles for navigating complex urban environments. It moves Uber closer to its goal of facilitating autonomous vehicle trips in 15 cities by late 2026. A similar strategy is reportedly being implemented in India, as the company seeks to leverage local opportunities for AV development.
Market Reaction and Financial Outlook
Wall Street reacted cautiously to the news of the leadership change and Uber's autonomous vehicle plans. Shares fell approximately 6% on Wednesday morning following an SEC filing that revealed a weaker-than-expected profit outlook. Management attributed this to increased spending on autonomous vehicle infrastructure, indicating a shift in financial priorities.
Krishnamurthy, who also holds a board seat at autonomy startup Waabi, is expected to oversee a more aggressive investment phase in AV technology. This week, Waabi secured $750 million in funding and announced a partnership with Uber, further strengthening the company's position in the autonomous driving sector.
CEO's Vision and Future Plans
During the December quarter earnings call, Uber CEO Dara Khosrowshahi outlined a comprehensive roadmap for the company's autonomous vehicle ambitions. He announced plans to facilitate AV trips in 15 global cities by the end of 2026, with the ultimate goal of leading the global AV market by 2029. Khosrowshahi emphasized that autonomy is expected to amplify Uber's existing logistics network, despite creating immediate pressure on profit margins.
Krishnamurthy has indicated that the company plans to invest in its AV software partners, collaborate with AV manufacturers through equity investments or offtake agreements, and support AV infrastructure partners. These initiatives reflect a strategic pivot from immediate profit maximization to building long-term technical infrastructure.
Financial Performance and Strategic Shift
Uber reported a 20% increase in revenue to $14.37 billion for the quarter, largely driven by strong demand in its food delivery segment. However, the incoming CFO emphasized that future free cash flow would be directed toward positioning Uber to succeed in the driverless sector. This signals a clear strategic shift toward prioritizing long-term technological advancement over short-term financial gains.
The appointment of Balaji Krishnamurthy as CFO represents a calculated move by Uber to strengthen its financial leadership during a period of significant technological transformation. As the company navigates the complexities of autonomous vehicle integration and market expansion, Krishnamurthy's expertise will be crucial in balancing innovation with financial sustainability.
